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Apple cutting orders for iPhone 5 parts

NEW YORK (AP)— Apple shares are falling in premarket trading after The Wall Street Journal reported that the company has cut its orders for iPhone 5 components due to weaker-than-expected demand.

The newspaper says two people it did not identify by name told it that Apple's first-quarter orders for iPhone 5 screens have dropped to about half of what the company had planned to order.

The report says one of the sources told the newspaper that the U.S.-based company has also cut orders for components other than screens. The Journal says it was told Apple notified the suppliers of the order cut last month.

 

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